Anand Group Invests INR 987 Crore In Tamil Nadu

Mobility Outlook Bureau
15 Jan 2024
05:15 PM
1 Min Read

The move will boost automotive manufacturing and promote job creation.

Anand Group Invests INR 987 Crore In Tamil Nadu mobility outlook

Anand Group has announced a substantial investment of INR 987 crore in Tamil Nadu at the Global Investors Meet 2024. The Memorandum of Understanding (MoU) signed between Anand Group and its Joint Venture Partners reflects the company's commitment to enhancing its manufacturing capabilities in the region.

The investment will be directed towards the manufacturing of cutting-edge technology products for both Electric Vehicles (EVs) and Internal Combustion Engine (ICE) Vehicles. Joint Venture Partners involved in the project include Inalfa Gabriel Sunroof Systems Private Limited, HL Mando Anand India Private Limited, Gabriel India Limited, HL Klemove, and ANAND Mando E-Mobility Private Limited.

The MoU, inked in the presence of Tamil Nadu's Chief Minister, Thiru M K Stalin, aligns with Anand Group's strategy to leverage advanced technology to meet the surging demand for EVs and ICE Vehicles in India. The focus will be on expanding manufacturing capabilities for critical auto components such as Sunroof Systems, Electronic Power Steering, Integrated Dynamic Brake System, and E-Motors for two-wheeler applications.

Anjali Singh, Executive Chairperson of Anand Group, expressed the company's long-standing commitment to Tamil Nadu, citing the state's favourable business environment, robust infrastructure, and skilled talent pool as key factors. The move is part of Anand Group's broader commitment to supporting the Central government’s Atmanirbhar Bharat plan for self-reliance in manufacturing.

Anand Group, supplying technology parts to prominent OEMs like Hyundai, Tata Motors, Mahindra, TVS Motors, and OLA Electric, has a track record of creating job opportunities in Tamil Nadu. The latest investment is expected to generate over 2,000 job opportunities in the region over a seven-year period, contributing significantly to Tamil Nadu’s economic development.

S Sarathi, Group President and Chief Assurance Officer at Anand, highlighted the company's satisfaction with the favourable industrial climate and ease of doing business facilitated by the Tamil Nadu government. The new investment marks Anand Group's fourth MoU with the state government, reinforcing their commitment to the region.

Anand Group, with a legacy of over six decades, operates 23 companies, 14 of which are joint ventures. The group employs over 19,000 people and has a substantial global presence, with an increasing focus on e-mobility through the ANEVOLVE platform.

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